Out-Law News | 15 Jun 2021 | 3:03 am |
The state government of New South Wales (NSW) in Australia has opened the registration of interest process for a series of energy infrastructure projects with storage capacity of 8 gigawatts (GW).
The projects include new wind, solar and storage and will be developed in the New England renewable energy zone (REZ) which has been committed A$78.9 million ($61m) from the NSW government, said a statement. It is reported this energy zone “is set to become Australia’s largest”.
Energy expert George Varma of Pinsent Masons, the law firm behind Out-Law, said: “This is a great development to unlock the full potential of renewable energy generation in the region. This project will not only assist Australia with working towards its net zero carbon emissions target but is also a fantastic opportunity for large scale developers to enter into the market.”
The registration of interest process will help the state government to understand the planning of the REZ including the estimated investment value, location and types of projects looking to connect.
The New England REZ is expected to attract A$10.7 billion ($8.3bn) private investment, to provide 830 operational jobs and 1250 construction jobs locally. It is part of the NSW Electricity Infrastructure Roadmap which is expected to deliver A$32bn ($24.8bn) in private investment, 6300 construction and 2800 ongoing jobs in the region.
The call for registrations of interest will close on 16 July.